HASI director granted 3,553 LTIP Units

HA Sustainable Infrastructure Capital, Inc. director Laura Ann Schulte received a grant of 3,553 LTIP Units in Hannon Armstrong Sustainable Infrastructure, LP on June 3, 2026.

Rhea-AI Filing Summary

HA Sustainable Infrastructure Capital, Inc. director Laura Ann Schulte received a grant of 3,553 LTIP Units in Hannon Armstrong Sustainable Infrastructure, LP on June 3, 2026. These long-term incentive plan units are derivative interests tied to the issuer’s common stock.

Following this award, Schulte holds 8,719 LTIP Units, which, upon vesting and achieving parity with OP Units under the partnership agreement, may convert one-for-one into OP Units. Those OP Units can then be redeemed for cash equal to the market value of an equivalent number of HA Sustainable Infrastructure Capital common shares or, at the issuer’s option, into common stock on a one-for-one basis.

Insider Trade Summary

Grant/Award: 3,553 shares

Grant/Award 1 txn

Insider Schulte Laura Ann

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	3,553	$0.00	$0.00

Holdings After Transaction: LTIP Units — 8,719 contracts (Direct)

Footnotes (3)

1. F1. 8,719 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon vesting and the conversion of 8,719 long-term incentive plan units ("LTIP Units") in the Partnership.
2. F2. Vested LTIP Units, after achieving parity with OP Units (as described in the Partnership's Amended and Restated Agreement of Limited Partnership (the "Partnership Agreement")), are eligible to be converted into OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership Agreement. Upon conversion of LTIP Units into OP Units, the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash in an amount equal to the market value (as defined in the Partnership Agreement) of an equivalent number of shares of common stock, par value $0.01 per share, of HA Sustainable Infrastructure Capital, Inc. (the "Issuer"), or at the Issuer's option, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments.
3. F3. N/A

Key Figures

LTIP Units granted: 3,553 LTIP Units LTIP Units after grant: 8,719 LTIP Units Underlying common stock: 3,553 shares +1 more

4 metrics

LTIP Units granted 3,553 LTIP Units Grant on June 3, 2026

LTIP Units after grant 8,719 LTIP Units Total LTIP Units held following transaction

Underlying common stock 3,553 shares Underlying HA Sustainable Infrastructure Capital common stock for this grant

Exercise price $0.00 per unit Conversion or exercise price for LTIP Units in this grant

Key Terms

LTIP Units, OP Units, long-term incentive plan, Amended and Restated Agreement of Limited Partnership, +1 more

5 terms

LTIP Units financial

"8,719 long-term incentive plan units ("LTIP Units") in the Partnership."

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

OP Units financial

"8,719 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP"

OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.

long-term incentive plan financial

"long-term incentive plan units ("LTIP Units") in the Partnership."

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

Amended and Restated Agreement of Limited Partnership regulatory

"as described in the Partnership's Amended and Restated Agreement of Limited Partnership (the "Partnership Agreement")"

redemption financial

"the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash"

Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did HASI director Laura Ann Schulte report?

Laura Ann Schulte reported receiving a grant of 3,553 LTIP Units on June 3, 2026. These long-term incentive plan units are part of her equity-based compensation and are tied economically to HA Sustainable Infrastructure Capital’s common stock.

How many LTIP Units does Laura Ann Schulte hold after this HASI Form 4?

After the reported grant, Laura Ann Schulte holds 8,719 LTIP Units in the partnership. These units may, after vesting and meeting conditions in the partnership agreement, be convertible into an equal number of OP Units linked to HASI common stock.

What are LTIP Units in relation to HA Sustainable Infrastructure Capital (HASI)?

LTIP Units are long-term incentive plan units in the operating partnership. Once vested and at parity with OP Units, they can convert one-for-one into OP Units, which are economically tied to HA Sustainable Infrastructure Capital’s common stock through redemption or share delivery.

Can Schulte’s LTIP Units eventually convert into HASI common stock?

Yes. After vesting and satisfying conditions in the partnership agreement, LTIP Units can convert into OP Units. Schulte may then redeem OP Units for cash equal to common stock value or, at the issuer’s option, receive HASI common shares one-for-one.

Does this HASI Form 4 indicate any insider share sales?

No. The Form 4 reports a grant/award acquisition of 3,553 LTIP Units, not a sale. The transaction code is “A,” which denotes a grant, award, or other acquisition, and the filing shows no open-market sales or disposals.

What is the economic link between OP Units and HASI common stock?

Upon conversion of LTIP Units into OP Units, the holder may cause the partnership to redeem OP Units for cash equal to the market value of equivalent HASI common shares or, at the issuer’s option, receive common stock on a one-for-one basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/05/2026 - 04:12 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schulte Laura Ann

(Last) (First) (Middle)

ONE PARK PLACE

SUITE 200

(Street)

ANNAPOLIS MARYLAND 21401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HA Sustainable Infrastructure Capital, Inc. [ HASI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units	(1)(2)	06/03/2026		A		3,553		(1)(2)	(3)	Common stock, par value $0.01 per share	3,553	$0	8,719	D

Explanation of Responses:

1. 8,719 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon vesting and the conversion of 8,719 long-term incentive plan units ("LTIP Units") in the Partnership.

2. Vested LTIP Units, after achieving parity with OP Units (as described in the Partnership's Amended and Restated Agreement of Limited Partnership (the "Partnership Agreement")), are eligible to be converted into OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership Agreement. Upon conversion of LTIP Units into OP Units, the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash in an amount equal to the market value (as defined in the Partnership Agreement) of an equivalent number of shares of common stock, par value $0.01 per share, of HA Sustainable Infrastructure Capital, Inc. (the "Issuer"), or at the Issuer's option, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments.

3. N/A

Remarks:

Exhibit No. 24.1 Power of Attorney dated April 30, 2026.

	/s/ Michael Stephan, Attorney-in-Fact	06/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)